BOOK REVIEW:

Book Title: A Practical Guide to Earned Value Project Management, 2^nd edition
Authors:  Charles I. Budd, Charlene S. Budd
Publisher:  Management Concepts
List Price: US$65.00
Publication Date: October 2009
ISBN:978-1567262568
 Reviewer: Mei-min Zoe Peng
 Review Date: December 2009

Introduction to the Book

In order to answer the question “What did we get for the money we spent?” and to see how much has been accomplished in project management, we can use the Earn Value Management System (EVMS), which was introduced by the Department of Defense in 1960’s. In the book A Practical Guide to Earned Value Project Management, authors Charles and Charlene Budd show practitioners the 32 criteria of EVMS and explain how practitioners can comply with these criteria in both detail description and visual forms in order to balance their money, time, and schedules.

Overview of Book’s Structure

The authors of A Practical Guide to Earned Value Project Management construct the book into seven major parts – ranging from academic views and real world implementation. Part 1 explains the purpose of applying EVMS to organization at the enterprise level. It explains that the Earned Value Management System is a communication tool for project progress. Part 2 briefly introduces EMVS. Since EVMS is a metric tool, the definition of formula and its benefits are all described in this section.

Part 3 explains the first 15 EVMS criteria, which ensure that the project management system will be established from organization to project itself. How to construct a work breakdown structure, WBS dictionary, and project baseline? Because EVMS serves as an early signal for both schedule and cost problems, it can be used to monitor deliverables schedule and dependency of project activities…

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About the Reviewer: Mei-min Peng, MBA, PMP®, CSM Mei-min Peng is a founding partner of Joyto Inc., a venture capital firm focuses on investments in digital media and supply chain services as well as small business companies initiatives on the Internet. She helps establish business development capabilities through strong, strategic relationships across the supply value chain, particularly in US and China. Specifically, she is responsible for leading capital on investment trends and opportunities for innovation and growth. She has eight years project experiences in ATX Group, Inc. She is also a professional photographer and currently serves as a president of North Texas Asian Photography Association. She holds an MBA from University of Dallas and a certification from project management EMBA program at University of Texas at Dallas. She can be contacted at zoepeng@joytocapital.com